Also PM would do a checklist during that photo visit to try to catch extra people, unregistered pets, leaks, damage, maybe bad water heaters/HVAC units, storm damage, so that's being proactive.I think these days too many PMs are in it to try to figure out how they can milk the heck out of stupid owners vs helping them build a portfolio and be successful owners.Being proactive on preventative maintenance, being quick on delinquencies, providing property values and options is helpful. 

Also look under the kitchen sinks to see if there’s been leaking or if the plumbing looks hacked.

I would ask for the financial model, contracts, and any other relevant docs.  

What next, try to force seller(s) to accept a PA on stated facts with 0 supporting doc's????     

Our approach for implementation is to break all repairs into 4 categories by priority:1) Health & Safety - most important as could result in tenant lawsuit2) Property Preservation & Government Requirements - don't ignore a roof leak that costs hundreds to fix now, but will costs thousands in the future.

I disagree, we have developed our own lease and supporting docs.

They are serviced with a note/contract servicer which holds the original docs, receives and dispurses pmts, does the tax reporting and enforces the terms like late fees, early payoff penalties,  interest-only end dates, etc. 

One of my properties (in Palm Bay, Florida) recently encountered a leak which apparently occurred because the AC unit may not have installed properly.

The mold I think was a result of water leak from an HVAC unit.

True, gone are the NO Doc loans to anyone with a pulse, but mortgage investors and lenders still have a lot of creative ways to lend.